The comparison website Uswitch has shared the cheapest new electric cars to insure, following a recent spike in sales.
As car insurance prices continue to rise for almost all motorists, the company noted that incentives to help motorists make the switch from petrol or diesel to electric has seen major cuts in the cost of EVs.
Leoni Moninska, car insurance expert at Uswitch, noted that buyers tempted by the lower prices of electric models should always research insurance costs before purchasing a car to avoid nasty hidden fees.
She advised: “While the price of electric vehicles fall, it’s important to not only think about the cheapest models to buy, but also the cost of insuring your EV.
“Where people often presume that EVs are more expensive to insure, with prices expected to continue to drop, it is worth searching for updated quotes to see what deals are on offer.”
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Looking at the average insurance prices for a variety of ages, Uswitch found that the cheapest EV to insure is the electric Fiat 500, with motorists typically paying £1,075.99 for a 12-month policy.
Whilst most of the cheapest models to insure are superminis, SUVs such as the Vauxhall Mokka-e and Renault Megane E-Tech also had cheap premiums.
The company also noted that motorists can save more money by looking around for deals on new models, with drivers able to cut the cost of many cars by several thousand pounds.
Top 10 Cheapest Electric Cars to Insure:
- Fiat 500 70kW Red 24kWh – £1,075.99
- Vauxhall Mokka-e 100kW GS line 50kWh – £1,281.69
- Volkswagen ID3 150kW Pro 58kWh – £1,461.26
- Renault Megane E-Tech EV60 Iconic 60kWh Optimum Charge – £1,473.45
- Vauxhall Corsa-e 100kW GS 50kWh – £1,534.71
- Honda E 113kW Advance 36kWh – £1,988.46
- BMW iX3 210kW M Sport 80kWh – £2,021.59
- Nissan Leaf 110kW Acenta 39kWh – £2,085.49
- MG ZS 130kW SE EV 51kWh – £2,636.51
- Mercedes Benz EQC 300kW AMG Line Premium 80kWh – £2,976.07
Whilst many drivers may currently be put off buying an electric car as their price is typically several thousands of pounds more expensive than a petrol, Leoni added that they can save motorists money in the long run.
She continued: “Despite EVs being more expensive upfront, they can often end up being cheaper to run over time, with no road tax, ULEZ costs and attractive charging prices, which makes them a good option for many drivers if they’re planning to keep the car for a while.
“Of course, as with all vehicles, quotes for smaller and more practical EV models are not far off those of their petrol and diesel equivalents.”
